Indiana Michigan Power Co. is negotiating with Jay County landowners to build windmills to test the area’s ability to generate electricity. I&M, based in Fort Wayne and owned by American Electric Power of Columbus, Ohio, might invest as much as $175 million in the Jay County area, according to The Commercial Review of Portland. Relatively high wind […]
Profit for Zimmer Holdings Inc. increased 22.6 percent in the fourth quarter, to $244.7 million, the Warsaw prosthetics maker reported today. For the year, profit was up 13.9 percent, to $834.5 million, as a stream of new products drove sales. One new product, Gender Solutions, is a knee replacement designed for women.
Government and industry officials are planning a news conference Wednesday to announce an 800-acre, $30 million expansion of Rockport River Terminals, a privately-owned shipping terminal on the Ohio River east of Evansville. The project is expected to be an initial salvo in an ongoing expansion. Wednesday’s announcement will discuss adding the capability of handling steel […]
The Indianapolis environmental consulting firm Allegiant Global Services is about to announce that it will hire 123 workers—mostly consultants—over three years, according to Indy Partnership. The jobs will pay an average of $26 an hour, about $7 more than the Marion County average. The former Heritage Interactive Services, 8720 Robbins Road on the far northwest […]
Macquarie, the Australian bank that teamed with a Spanish company last year to lease the Indiana Toll Road, has bought the publisher of 40 newspapers in Texas and Oklahoma. Perhaps not so coincidentally, note critics, the American Consolidated Media papers criticized Macquarie’s plans to build a 4,000-mile toll road across Texas. Macquarie said its initial, […]
A global survey by the British newspaper The Financial Times landed three MBA programs at Indiana universities in the top 100. Purdue’s Krannert ranked 48th, and Mendoza at Notre Dame and Kelley at Indiana tied for 65th. Five criteria including salaries, alumni satisfaction and gender diversity were considered. Wharton school at the University of Pennsylvania […]
Columbus diesel engine maker Cummins Inc. reported $1.2 billion in profit for 2006, the third year in a row of record earnings. The 30-percent increase resulted from strong sales in its engine and power generation units. For the fourth quarter, profit of $189 million was up 13.2 percent. Without elaborating, CEO Tim Solso said the […]
US Airways Inc. has told the creditors committee of bankrupt Delta Air Lines Inc. that it will boost its $9.8 billion hostile takeover by $1 billion if the committee demands Delta allow US Airways to conduct due diligence, according to The Wall Street Journal, quoting unnamed sources. Delta also would have to postpone a Feb. […]
Comparing Chicago and Indianapolis corporate powerhouses in a financial Super Bowl is no contest, says Kiplinger, the personal finance and business forecast organization. Chicago wins by more than a touchdown. Both cities are economically diverse. In fact, Kiplinger noted, the cities are more alike than different when size and lake frontage are taken out of […]
Haynes International Inc., a Kokomo company that makes alloys for use in aerospace, chemical processing and gas engines, announced yesterday it would sell 2 million shares of common stock and that it has applied to be listed on NASDAQ under the ticker HAYN. Haynes, which trades as a pink sheet, will use the money to […]
Payton Wells Chevrolet at 1510 N. Meridian St. was locked this morning, and the two dozen cars on the lot had notices in their windows saying they had been surrendered to National City Bank. The notices said they were turned over to National City yesterday and could not be removed without the bank’s permission. […]
Payton Wells Chevrolet at 1510 N. Meridian St. was locked this morning, and the two dozen cars on the lot had notices in their windows saying they had been surrendered to National City Bank. The notices said they were turned over to National City yesterday and could not be removed without the bank’s permission. […]
Patrick Barkey, one of Indiana’s most prominent economists, has accepted a post at the University of Montana and will be leaving Ball State University in March. Barkey, director of economic policy studies at Ball State’s Bureau of Business Research, has been with the university since 1993. He will become a senior researcher at the […]
Residents in the Merrillville area are growing jittery over prospects that NiSource Inc.—the only Fortune 500 company in northwest Indiana—might move out of the area. United Steelworkers official fears NiSource will relocate to Columbus, Ohio, where its Columbus Gas of Ohio natural gas utility is headquartered, according to The Times of Munster. Bloomberg reported yesterday […]
Payton Wells, who owns a Chevrolet dealership 1510 N. Meridian St., traveled to Anderson Thursday afternoon and closed three other dealerships he owns, The Herald Bulletin reports. Calls from the newspaper to Wells’ Indianapolis location were unanswered, although the newspaper could not immediately determine if the site also had been closed. He could not be […]
Economic development leaders in the Elkhart area are gathering money to study how local businesses could use an international fiber optic line that runs through Elkhart County. Few businesses know it exists, The Truth reported. The low cost of sending information over the line not only could help local businesses in the northern Indiana county, […]
Steel Dynamics Inc. has bought a 4,458-acre mine in northeastern Minnesota’s iron range, renewing hopes of local officials that the Fort Wayne steelmaker will build a plant to make nearly pure iron nuggets for use in electric arc steel furnaces. On Nov. 30, Steel Dynamics pulled out of a partnership with four other parties […]
Shareholders of Icos Corp. voted 77 percent to 33 percent today to accept Eli Lilly and Co.’s $2.3 billion offer for the developer of the erectile dysfunction drug Cialis, according to Bloomberg. Analysts quoted by Bloomberg said shareholders were so divided about the deal that they couldn’t predict whether Lilly would succeed. Only three […]
General Motors Corp. today made official a long-expected announcement that it is considering a sale among other options for its Indianapolis-based Allison Transmission commercial and military operations. GM said in a brief statement that the facility in the 4700 block of West 10th Street “is not central to GM’s mission” of selling cars and light […]
The decline in the housing market is past, the National Association of Realtors said today. The organization reported December sales of existing homes fell 0.8 percent from November to an annual rate of 6.22 million. Still, inventories of unsold homes dropped 7.9 percent—to a 6.8-month supply. The $222,000 median sale price was unchanged from a […]
